The EURJPY bullish momentum was paused on Friday, but as you can see on my h4 chart below price found a good support around the bearish channel upper line indicating the upside scenario testing 114.50 remains intact. Only a consistent movement back below 110.66 area could be seen as bullish failure and resume the major bearish scenario re-testing 109 – 108 region.
The GBPJPY bullish momentum was paused on Friday. However, as you can see on my h1 chart below price still convincingly move inside the bullish channel indicating the bullish correction scenario remains intact in nearest term especially if price able to break above 133.20, testing 134.80 area. On the downside, immediate support at 130.80. Break below that area could trigger further bearish pressure testing 129.00 and could be a serious threat to the bullish correction scenario.
The AUDUSD was corrected lower on Friday. However, the strong bullish movement last Thursday still lead us to a bullish view in nearest term testing 0.8716 area and only another pullback below 0.8360 could be seen as potential bullish failure re-testing 0.8070 region one more time.
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